With WTI Jan Crude oil failing to hit $50, November 2nd at $49.23 and November 3rd at $49.18, that rejection has created a steady descent, following the over downward trend of WTI Crude.
Market Dimensions Advisory (MDA)
For the last 2 weeks, the WTI crude market has been making another run lower. Looking at the January contract, WTI attempted to hit the $50 barrel mark and fell short, only reaching $49.23.
For the past couple of weeks, we have seen an extremely strong sell off in the meat commodity sector – Live Cattle, Feeder Cattle and Hogs. Overall, it has been a bearish trend for these contracts in 2015, but we have seen limit down moves in these markets off and on for almost a week straight.